Oc Housing Connection

For the first half of our program today, our hosts, Hamid and Fay Hamadanchy, explore the inner workings of the Federal Reserve (known to most of us as just "the Fed").  What comes out of this lively discussion is just how little most of really know about this mysterious entity despite it's crucial connection to our economy and housing markets. Do you know how many Federal Reserve banks there are in this country?  Where they are located and who runs the one in your area?  Or how they control inflation and affect our housing prices? From there we talk about the OC Housing market as it continues to head towards record heights and how this may be the norm for some time to come, regardless of what happens in other parts of the country.  Will we become one big "Leisure World" with a largely older population of graying seniors unable to move up (as higher end homes move further out of reach) and unwilling to move out to traditional retirement communities (as their parents did)?  And will this further exacerba